Blog: Michelle RussellRace on to secure TPP agreement

Michelle Russell | 12 August 2015

After the latest round of TPP talks failed to clinch a deal, the race is now on to secure an agreement before the US presidential elections halt progress. Trade ministers are scrambling to try and forge a final Trans-Pacific Partnership (TPP) agreement within two months, after a meeting of trade ministers in Hawaii failed to clinch a deal last week.

If secured, Vietnam especially stands to gain from the TPP. In a separate deal, the country last week reached an agreement with the European Union (EU) on a free trade deal after two and a half years of talks. The agreement is the first of its kind that the EU has concluded with a developing country, and will remove nearly all tariffs on goods traded between the two economies. Vietnam will also remove almost all of its export duties.

India is another country with promising prospects as a new report by the United States Department of Agriculture (USDA) forecasts the country will overtake China as the world's largest producer of cotton in the 2015/16 fiscal year.

Elsewhere, apparel imports into the US continued to rise in June, as retailers stocked up in anticipation of a busy spring and summer. While China remained top of the table, with growth accelerating from the month before, strong double-digit gains were booked by three of the top-ten supplier counties: Vietnam, Bangladesh and Indonesia.

According to industry expert David Birnbaum, rising GDP and falling FOB prices have contributed to a shift in global garment imports over the past 15 years. He questions whether these trends will continue in the future.

Another question raised last week, wa whether wearable technology is a 'fad' or is it here to stay? A partner for Technology Transactions Group at law firm Cooley looks at the challenges faced from both a commercial and a legal perspective, and discusses their future impact.

And, in this month's management briefing, we round up the most exciting trends in software. From PLM and ERP, to digital design and protptyping, the latest software developments are opening up new opportunities for apparel brands and retailers, as well as a more streamlined shopping experience for their customers.

In other news, a new online sourcing platform is launched to link designers and fabric R&D teams with reputable mills globally; a US government decision to upgrade Malaysia in its annual report on human trafficking has prompted accusations of "sinister manipulation" of the TPP negotiating process; Patagonia raises the bar for environmental and human rights practices with its new 100% organic denim collection; and new research suggests one size doesn't fit all when it comes to tapping in to the growing purchasing power of millennials.

BLOG

A deep dive to unlocking digitisation's potential

So far, the promise of digitisation in the apparel industry remains largely unfulfilled. But with opportunities for new cheap supplier countries nearly exhausted, it is now seen as offering sourcing e...

BLOG

Kingpins Goes to DC – Watch now

The challenges and opportunities facing today’s textile and apparel industry is also explored in the second in a series of expert panel discussions that is now available to watch on demand...

BLOG

Industry outlook positive but disruptive

How is the global apparel sourcing landscape changing? According to executives at last month’s MAGIC fashion trade show in the US, "speed-to-market," "product differentiation" and "inventory control" ...

NEWS

US lifts limits on apparel imports under AGOA

The US has set new annual limits on duty and quota-free imports of apparel articles assembled from regional and third-country fabric under the African Growth and Opportunity Act (AGOA) in the upcoming...

BLOG

Speed-to-market can be slow to achieve

It's easy for brands and retailers to see how they can potentially benefit from a successful speed-to-market program – but the irony is that without the support of strategic suppliers, it can be a lon...

just-style homepage



Forgot your password?